🧬 Livepeer Printing Machine: Why Did the Network Suddenly Release Millions on Binance?
On-chain monitoring recorded the launch of a large “printing press” within the Livepeer network.
The project’s validators carried out a large-scale issuance of new coins, some of which were instantly sent to the market.
Made out of thin air.
Directly through the generating smart contract, as a result of the inflationary round, a new batch of tokens $LPT was issued for a total of $1.6 million.
Route to the exchange.
The new liquidity didn’t stay put. Through a cascade of rapid transactions, a large volume of coins totaling $560,000 was promptly sent to the Binance exchange for further selling.
A gigantic core.
The rest of the fresh issuance settled on the project’s treasury smart contract. The total balance of this address grew to an impressive $41.5 million in the wallet: 0xc20DE37170B45774e6CD3d2304017fc962f27252.
Regular issuance of inflationary rewards by the network’s orchestrators and their immediate dumping into the exchange order book create a constant hidden resistance to price growth.
$LPT
Subscribe to the channel to be the first to catch uncontrolled minting and behind-the-scenes token dumps into exchange! 🚀#Livepeer #LPT #Binance #OnchainAnalysis #BinanceSquare
On-chain monitoring recorded the launch of a large “printing press” within the Livepeer network.
The project’s validators carried out a large-scale issuance of new coins, some of which were instantly sent to the market.
Made out of thin air.
Directly through the generating smart contract, as a result of the inflationary round, a new batch of tokens $LPT was issued for a total of $1.6 million.
Route to the exchange.
The new liquidity didn’t stay put. Through a cascade of rapid transactions, a large volume of coins totaling $560,000 was promptly sent to the Binance exchange for further selling.
A gigantic core.
The rest of the fresh issuance settled on the project’s treasury smart contract. The total balance of this address grew to an impressive $41.5 million in the wallet: 0xc20DE37170B45774e6CD3d2304017fc962f27252.
Regular issuance of inflationary rewards by the network’s orchestrators and their immediate dumping into the exchange order book create a constant hidden resistance to price growth.
$LPT
Subscribe to the channel to be the first to catch uncontrolled minting and behind-the-scenes token dumps into exchange! 🚀#Livepeer #LPT #Binance #OnchainAnalysis #BinanceSquare
